Funding arb · Price arb / RWA
| Leg | Exchange | Price | Fund. /8h | Each payment | Next in | OI | Vol 24h | Lev | |
|---|---|---|---|---|---|---|---|---|---|
| LONG | 1,951.9 | −0.0048 | get 0.0006% / 1h | 48m 53s | $8.3M | $41.5M | 5x | Long Lighter RH+10% pts | |
| SHORT | 1,918.4 | 0 | 0.0000% / 1h | 48m 53s | $1.0M | $47K | 6x | Short Phoenix |
Price gap−1.716%
Funding gap+0.0048% /8h
Both sides work: funding pays +$1 a day on $10k, and the gap is 0.299% above its 7d average: +$30 more if it goes back.
If you open now and hold
on $10k a leg · figures of the last 7D, not a forecastFunding$0+0.0048% /8h now · paid 0.000% over the last 7D
Price+$30spread −1.716% now, avg −2.016% → +0.299% if it goes back
Costs−$1031.029% of $10k · taker + slippage, in and out
Result−$73−0.73%+ Points / potential airdropLighter RH: Points live · farm boardWhat the last 7D really paid, hour by hour → backtest
Price and funding
1h · historyEntry / Exit
Price spread
Prices
Fundingper 8h
ENTRY / EXIT · 7D
Entry now—
Entry average—
Best entry—
Exit now—
Exit average—
Best exit—
Exit free—
PRICE SPREAD · 7D
Now−1.716%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—
Where the spread has been, last 7D▾
share of time at each level
Funding on every exchange
/8hANTHROPIC on 26 exchanges
lowest funding firstBefore you open
4 ok · 2 to watch- Watch: Thin at this size10.8 / 43.9 bpAt $10k entering Phoenix costs 43.9 bp, fee and slippage, 4.1× Lighter RH’s.
- Note: Margin at max leverage$2,000 + $1,667Lighter RH 5x, Phoenix 6x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
- OK: Same payment interval1h / 1hBoth legs pay at the same time.Next 24h at the current rates, on $10k a leg: +$1.44Long Lighter RH: 24 payments, +$1.44; short Phoenix: 24 payments, $0.00.
- OK: Entry gap works for you−1.716% vs −2.016%You short the dearer leg. If the gap goes back to average, the short gains.
- Watch: Short leg is thinner$1.0M vs $8.3M OIPhoenix sets your exit cost. Check its book before closing.
- OK: Points on a legLighter RH Points liveVolume here counts toward the points program.
- OK: No KYC on either legLighter RH No · Phoenix NoBoth exchanges let you trade without ID.
Profit calculator
both legs, in and outPosition, each legHold forOrdersPrice spreadFunding rate
Funding earned0.0000%/8h × 21 periods+$0.04
Price spread−1.716% → −2.016% (7d avg)+$29.94
Slippage, 4 orderslive order books−$95.87
Fee Lighter RH bp × 2 orders$0.00
Fee Phoenix bp × 2 orders−$7.00
Net · 7 days · $10k−$72.89
Costs to cover1.029%Break-even12142.7 days
Slippage: Lighter RH: live order book, 4 min ago; Phoenix: live order book, 4 min agoCost to enter
taker + slippage from mid, one sideBUY · LONGLighter RH0.5110.8 bp−$11doesn’t fitdoesn’t fitdoesn’t fit
SELL · SHORTPhoenix3.1343.9 bp−$44279.8 bp−$2,798doesn’t fitdoesn’t fit
Closing costs about the same again.
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